Wake Forest Baptist Medical Center released its third quarter
report on operating performance and operating statistics for fiscal year 2017
(FY17) today and reported improvements in key areas primarily driven by volume
growth in the clinical enterprise with improving patient access and enhancing
provider throughput continuing to be an ongoing focus.

Unrestricted
net assets increased $117.1 million for the nine-month period (July
1, 2016 – March 31, 2017). This gain is comprised of operating income of $62.8
million (3.2% operating margin) and net non-operating gains of $54.3 million.

Total
net revenues of $2.0 billion were 13.5% higher than the
prior year.

Inpatient
utilization or system inpatient case mix adjusted discharges
decreased slightly, 0.2%, compared to prior year due to a slight decline in
discharges offset by an increase in case mix index. The slight decline in
discharges was driven by the continued migration of lower acuity patients being
treated in an observation setting. Observation volumes increased 9.8%.

Surgical
volumes increased across the health system with operating room
cases up by 4.8% over prior year, growth in inpatient cases of 4.3% and growth
in the outpatient setting of 5.1%.

Outpatient
volumes overall continued to show strong growth with an 11.8%
increase over the prior year. This growth is attributable to the migration of
treating patients in an observation setting, improvements in ambulatory and
diagnostics access, and the Cornerstone acquisition.

Wake Forest Baptist’s annual outpatient visits exceed 1.2
million. Its degree-granting educational programs annually train more than 1,900
students in health care-related fields and it receives nearly $170 million
annually in research funding from federal and state agencies, industry and
other sources.

In The News

Wake Forest Baptist and Allegacy Federal Credit Union today announced an innovative partnership – believed to be the first of its kind in the country – focused on improving both the physical and financial wellbeing of people in our community.

Disclaimer: The information on this website is for general informational purposes only and SHOULD NOT be relied upon as a substitute for sound professional medical advice, evaluation or care from your physician or other qualified health care provider.